BernieHund: The Political Watchdog

Bernard Madoff should be in jail. It’s ridiculous to expect a con-man, even a self-admitted one, to confess his sins and find the straight and narrow path.

Prosecutors have accused financier Bernard Madoff - the alleged mastermind of a $50 billion Ponzi scheme - of intending to transfer up to $300 million worth of assets to protect them from seizure, and they want him locked up immediately.

In a court filing Thursday, the U.S. Justice Department accused Madoff of having signed about 100 checks - worth a total of $173 million - “ready to be sent out” prior to his arrest by the FBI on Dec. 11 on a charge of securities fraud.

Prosecutors said the checks violate his $10 million bail agreement and was an attempt to prevent his alleged victims from recovering their losses.

Perhaps, it would have been wise to allow Madoff to send his son the $25.00 pen his attorney said he had sent. Instead, with a checkbook and a pen in hand, Madoff is still figuring ways to save part of the fortune he scammed from his clients. Confession may be good for the soul, but apparently it came with little remorse.

Madoff has stayed out of jail probably due to his age… and connections. Magistrate Judge Ronald Ellis only required an ankle bracelet for Bernie, allowing him to remain at home until the time of his trial.

“The defendant’s recent distribution of jewelry and watches demonstrates a continuing intention to benefit those close to him, to the detriment of his victims,” said prosecutors in the filing.

About the “gifts” Bernie mailed out

The defense document said Madoff “simply did not realize” that the order prohibiting him from transferring assets pertained to the “sentimental personal items” he had mailed.

Also, the defense said some of the items were sent by his wife and that she is not subject to the same restrictions.

Well, chances are that Madoff’s wife, Ruth, isn’t without guilt if the reports that her name had been signed on some of the recovered documents. Who are they kidding? Only an idiot or a co-conspirator would dare to assume that Bernard Madoff acted alone in perpetrating his Ponzi bonanza.

Recent incidents seem to indicate that Madoff is still trying to salvage the remains of the sunken Ponzi scheme for the benefit of himself and his family. So far, only Judge Ellis and Madoff’s attorneys seem to be blind to that fact.